Wednesday, June 11, 2014

Just when you thought it was safe to go back into the water

"Estimated Deficit in May 2014: $131 Billion. CBO estimates that the federal government incurred a deficit of $131 billion in May 2014—$8 billion less than the shortfall in May 2013." http://www.cbo.gov/publication/45426

Social program spending continues to rise:
  • Spending for Social Security benefits rose by $25 billion (or 5 percent). 
  • Outlays for Medicaid rose by $14 billion (or 8 percent). 
  • Spending by the Department of Veterans Affairs (included in "Other Activities") increased by $9 billion (or 10 percent).
Is that sustainable?  A 5-10% increase every year?

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